Why is a JVA made for you? A strategic link with others can lead to commercial efficiency and support. However, before moving forward with a joint enterprise agreement, make sure that you and your business partner are on the same page. Implementing a JVA can ensure the safety of your investment and future activity. The duration of the agreement should be fixed and agreed by the parties, whether it is a fixed or unlimited period. The agreement should also determine whether the joint venture is created by the creation of a new entity, such as a joint venture, by the creation of a partnership or by other means. The AIC should establish rules or guidelines for corporate governance and a decision-making process for the company. For example, when it is decided that the company is run by a board of directors appointed by the parties, the agreement should specify the decisions that must be approved by the board of directors and the percentage of the vote, how to manage the impasse, the number of board meetings, the chair and the meetings to be held. CROP Director and CEO Michael Yorke states: “CROP further strengthens its global presence by securing this strategic joint venture in Jamaica. Many countries are now introducing new licensing and legislation regulations for CBD and cannabis, and are the main entry points for our growing organization.
Jamaica is of particular interest because its licensing regime allows for a full range of genetics that will give our tenants the advantage of being able to offer buyers a wide range of finished CBD and THC products. When a cooperation agreement is used, the responsibility to third parties depends on each party`s trade relationship with those third parties. However, the cooperation agreement may expressly provide for compensation. How contributions to the business are made can affect how you want to distribute profits, whether in proportion to the capital contributions granted or in an agreed report, whether it is 50/50 or 60/40. Similarly, it should be included how commitments should be dealt with and, if so, the limit covered by each party. Since a joint venture is separated from the parties who contract it and their other commercial interests, the agreement may also be responsible for what may happen outside the Community agreement. The agreement should, for example, include, where appropriate, how branding, intellectual property and products/services established during the joint venture can or can be used by each party outside the joint venture. VANCOUVER, British Columbia, July 31, 2018 (GLOBE NEWSWIRE) — CROP Infrastructure Corp. (CSE:CROP) (OTCMKTS:CRXPF) (“CROP” or “the company”) announces that it has entered into a joint venture agreement under which the company holds a 49% interest in a zero-cost lease on a 217,000 m2 plot of land, ideal for future cannabis production and extraction. The five hectares of farmland have been saved in Westmoreland Parish, one of Jamaica`s most fertile countries. The company is in the process of finding a suitable licensee for the project.
The company plans to grant the “Hempire Jamaica” mark to the tenant and has acquired the domain www.HempireJamaica.com.